Search Results for: Changchun

China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

Local government employees in the city of Suzhou will be receiving China’s central bank digital currency, digital currency electronic payment (DCEP) in May, according to a local news outlet. China has been charging full speed with its digital currency development plans shortly after Facebook revealed its Libra stablecoin project.  Mu Changchun, the Director-General of the … Continue reading China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

China’s CBDC Should Start Replacing Cash But Not Confined to Substitution, says Former Chinese Banker

Former Chinese banker, Wang Yongli suggested that a push for digital currencies to substitute all currencies is needed to support monetary operation reforms.  Wang, the Director of Haixia blockchain research institute and former vice president of Bank of China said that China’s central bank digital currency (CBDC), also known as its digital currency electronic payment … Continue reading China’s CBDC Should Start Replacing Cash But Not Confined to Substitution, says Former Chinese Banker

Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan

The People’s Bank of China through the use of its proposed Digital Currency Electronic Payment DCEP system aims to tackle the dominance of WeChat Pay and Alipay in the nation’s digital payment ecosystem. The news was reported days after the People’s Bank of China urged the nation’s top antitrust agency to probe the dominance of … Continue reading Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan

China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

China has been reportedly continuously expanding the trials of its central bank digital currency (CBDC) significantly, and in the wealthier cities in the country. China’s CBDC, also known as the digital currency electronic payment (DCEP), has been said to be “ready” for some time, however, the exact date of its rollout has not been set. … Continue reading China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

China's DCEP Will Not Compete With WeChat and AliPay

China’s central bank digital currency (CBDC) also known as the Digital Currency Electronic Payment (DCEP) will not compete with China’s digital payment giants WeChat and AliPay according to a prominent CBDC researcher.  The clarification was made by Mu Changchun, Head of the Central Bank’s Digital Currency Research Institute who noted that there is no basis for any competition … Continue reading China's DCEP Will Not Compete With WeChat and AliPay

HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official

China’s Central Bank – the People’s Bank of China (PBOC) – has announced that the number of users of its digital yuan wallets, also popularly recognized as the e-CNY, has risen by more than six times over the past four months. Speaking at the Hong Kong Fintech Week conference on Wednesday, November 3, Mu Changchun, … Continue reading HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official

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